Medtronic plc (NYSE:MDT) Shares Bought by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC increased its stake in Medtronic plc (NYSE:MDT) by 70.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,573 shares of the medical technology company’s stock after acquiring an additional 2,720 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Medtronic were worth $592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Lynx Investment Advisory purchased a new position in Medtronic during the 2nd quarter worth approximately $28,000. Tributary Capital Management LLC purchased a new position in Medtronic during the first quarter valued at approximately $33,000. Riverview Trust Co purchased a new stake in Medtronic in the 1st quarter worth approximately $39,000. Gleason Group Inc. acquired a new stake in Medtronic during the second quarter valued at $42,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Medtronic in the 2nd quarter valued at approximately $43,000. 82.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on MDT shares. Wells Fargo & Company boosted their price target on Medtronic from $105.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Piper Sandler raised their target price on shares of Medtronic from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Robert W. Baird boosted their target price on shares of Medtronic from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Citigroup boosted their price objective on Medtronic from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Finally, Daiwa America upgraded shares of Medtronic to a “strong-buy” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $95.36.

Medtronic Stock Up 2.7 %

MDT opened at $92.23 on Friday. Medtronic plc has a twelve month low of $68.84 and a twelve month high of $92.25. The firm has a market cap of $118.26 billion, a price-to-earnings ratio of 33.54, a PEG ratio of 2.53 and a beta of 0.84. The firm’s 50-day simple moving average is $88.45 and its 200-day simple moving average is $83.60. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.61 and a current ratio of 2.13.

Medtronic (NYSE:MDT) last issued its quarterly earnings data on Tuesday, August 20th. The medical technology company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. The firm had revenue of $7.97 billion during the quarter, compared to the consensus estimate of $7.90 billion. Medtronic had a return on equity of 13.68% and a net margin of 12.06%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. Equities research analysts anticipate that Medtronic plc will post 5.44 EPS for the current fiscal year.

Medtronic Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 3.04%. The ex-dividend date was Friday, September 27th. Medtronic’s dividend payout ratio (DPR) is presently 101.82%.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.